As per the most recent Goldman Sachs Prime Services weekly report, net selling occurred in global stocks for the seventh week running.

The majority of areas saw that pattern, with the exception of Europe, where net sales of stocks continued. North America, Developed Markets (DM) Asia, and Emerging Markets (EM) Asia were the regions with the most selling activity.

According to the study, single stocks saw net sales for the third week in a row, with short sales driving the majority of these transactions. On the other hand, macro goods experienced net purchasing driven by long buys for the third straight week.

Eight of the eleven worldwide sectors had net sales, with the sell-off led by communication services, financials, and staples. The only industries that saw net purchase were information technology, health care, and the industrial sector.

Significant selling pressure was seen in the financials in particular, which was the fourth straight week that net selling for the sector occurred. Nearly every region showed this selling tendency, with short sales exceeding long purchases by a ratio of roughly two to one.

The Wall Street bank goes on to say that subsectors of the financials industry that were net sold included banks, insurance, capital markets, mortgage REITs, and securities. Nonetheless, there was a little increase in net purchasing in Financial Services and Consumer Finance.

(Sources: investing.com, reuters.com)